VERMEG extends partnership with Santander as the global bank selects MEGARA for its post-trade processing system in Brazil - Lombard Risk

VERMEG extends partnership with Santander as the global bank selects MEGARA for its post-trade processing system in Brazil Contract win is first for the new VERMEG Brazil office

VERMEG, the banking and insurance software solutions specialist, announced that its state-of-the-art Securities and Custody solution “Megara” went live at Santander Securities Services Brazil (S3 Brazil) on July 2019. S3 Brazil will be serviced from VERMEG’s newly opened offices in Brazil.

VERMEG acts as a global partner for Santander Securities Services which uses VERMEG’s Megara post-trade processing software across multiple territories.

The extension of the partnership to cover Brazil makes S3 Brazil a founder client for VERMEG’s new office in Sao Paulo, which is led by General Manager, Wagner Antunes.

VERMEG was chosen for its expertise in the Securities Services space and ability to deliver an efficient and robust post-trade processing system. With a long standing relationship with the Santander Group, this new success in Latin America is testament to the high quality service which VERMEG provides to the bank.

Megara is a comprehensive and modular suite allowing clients to cover through a single installation various segments including wholesale, retail, foreign and domestic operations everywhere in the world, thus reducing complexity and driving down costs.

The new offices in Brazil will help VERMEG expand in the country by offering its large portfolio of products and will ensure that its client will get the best possible quality of services.

General Manager Wagner joins with a wealth of experience in financial services, having built his own company, VIXIA, a technology consultancy, and also having previously held Director positions at Ebix, IBM and DXC Technology. Wagner will be responsible for building the team and client base for VERMEG in the region.

Wagner Antunes, General Manager Brazil, VERMEG, said: “I am delighted that we have been chosen by Santander to provide post-trade processing solutions in Brazil, and to build on our existing relationship with this leading global bank. This is a landmark client for our new Brazil office and is an important step in realising our ambition to grown the VERMEG presence across Latin America.”

Badreddine Ouali, Chairman VERMEG said: “We are thrilled that our capabilities in financial market and securities management have been recognised by the Santander Group, which has chosen to use VERMEG as its strategic partner for post-trade processing in the region.

This is a really positive development for the new office and team in Brazil. We believe that there is a real opportunity in Latin America and we are investing in building the VERMEG offering to enable financial institutions and banks in the region to access our software products and services.”